A National Australia Bank (NAB) employee prevented a customer from losing $100,000 to an in-person investment scam at a branch in Melbourne’s south-west. The incident highlights the ongoing threat of investment scams, which continue to cause significant financial losses despite recent improvements.
The attempted fraud occurred when a customer, referred to as Bruce*, arrived at the Hoppers Crossing branch accompanied by another man, Simon*, who claimed to be a business associate. Sharon, the NAB banker involved, noticed unusual behavior from Bruce and several warning signs during their interaction.
“Bruce has come in before. He’s usually relaxed, chatty. But, this time, he seemed tense and almost unsure,” Sharon said.
Simon presented documents and pressured Bruce to sign them while attempting to facilitate the withdrawal of $100,000 from Bruce’s retirement account with promises of a 15% return.
“When I asked about their relationship, Simon brushed it off and insisted, ‘it’s strictly business’,” Sharon said.
“Simon did all the talking. He wouldn’t let Bruce speak. That was another red flag.”
Sharon further questioned whether Bruce had Internet Banking set up or identification available—both of which he did not have—raising additional concerns about the legitimacy of the transaction.
“I asked more questions, like whether Bruce had Internet Banking set up, which he didn’t. He also didn’t have a driver’s licence with him, which we need for this type of transaction. Two more red flags,” she said.
Sharon ultimately stopped the transaction due to these unresolved issues: “couldn’t proceed because the legitimacy of the transaction couldn’t be verified.” This response caused Simon to leave abruptly. Three weeks later, Bruce returned to thank Sharon for her intervention.
This case comes as NAB reports that overall customer scam losses dropped by 27% over the past six months compared with the previous half-year period (from January 1 to June 30, 2025 versus July 1 to December 31, 2024). However, investment scams remain responsible for most financial harm among customers.
Chris Sheehan, NAB Executive for Group Investigations and former Australian Federal Police executive commented on evolving scam tactics:
“While most scams start with a phone call, text message or on social media, there are rare instances like this where the scammer is physically present. This reflects just how far these organised criminals will go to rip people off,” Mr Sheehan said.
“When something like this occurs with a criminal coming into a branch to pressure a customer, we may refer it for further investigation. This can include sharing information with law enforcement agencies."
He added that although reported investment scams between July 1, 2024 and June 30, 2025 fell by 21% compared with the prior year period—and measures taken by NAB are making an impact—these scams still lead in terms of dollar value lost by customers.
Sheehan noted that about half (52%) of such scams now involve social media or online marketplaces—a rise from last year—and called for coordinated efforts across businesses and government: “About 52% of these scams involve a social media or online marketplace, an increase from 46% the previous year and re-iterating the need for a co-ordinated national approach across businesses social media organisations governments and the community to stop the crime before it happens."
He concluded: “While actions we’ve taken to protect customers are having an impact we can and will do more.”
*Customer names changed for privacy reasons